Silver heats up: Gate XAG contract open interest ranks top 2 in industry

The sustained top-tier open interest for Gate's silver perp signals that crypto-native venues are becoming meaningful price-discovery hubs for traditional metals, not just digital assets. This matters because it blurs the line between crypto and commodity markets, drawing in traders who want leveraged exposure to silver without leaving the crypto ecosystem. The key question is whether this demand is structural or a short-term spike tied to broader macro sentiment, and whether other exchanges will follow suit with competitive metal products.